News

John Walsh, who served as chief financial officer of Affina Brokerage Services LLC, has pleaded guilty to embezzling more than $2.5 million from USAlliance Federal Credit Union, which owns the subsidiary.

In another sign that the economy hasn't completely turned around, housing starts fell 10.6% in October, following two months of increases, according to a report issued today by the Commerce Department and the Department of Housing and Urban Affairs.

Outstanding loan balances increased 1.2% during the third quarter and share balances increased 8.8% through September, according to analysis of aggregated 5300-call reports by Callahan & Associates.

Southeast Wisconsin credit unions that lost millions in the March bankruptcy of Central States Mortgage Co., a CU-owned CUSO, have reached a settlement allowing them to recover claims totaling $72 million.

iPay Technologies of Elizabethown, Ky., plans to use CashEdge's aggregation technology to offer electronic billing service to the more than 3,600 financial institutions using iPay's bill pay solutions.

Credit unions are having a strong showing at this year's convention of the National Association of Realtors.